10 August 2017

NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 11 AUG 2017

BUY 1 LOT NIFTY 10,000 CALL @ 55 TGT 77/99

BUY 1 LOT SBIN 280 PUT @ 2.9 TGT 4.9/6.7

It was a sea
of red in markets on Thursday. The markets on Thursday logged their biggest drop
in 1 month. On Thursday, the markets took a major hit as both the key indices Sensex and Nifty
lost around 0.70% when the market closed for the day. The Sensex lost
238 points to close at 32237. The Nifty future dropped for the fourth session
in a row on Thursday to close a tad above the 9900 level. Nifty future came
down 48 points to close at 9878. It has opened below the 9900 support zone at
9895 made a high of 9919 & came down to 9803. The markets have been
volatile since the announcement of cuts in key interest rates by the Reserve
Bank of India, earlier this month. The investors had already factored in the
tweak in interest rates and were disappointed as the central bank maintained
its neutral stance. Investors came in for yet another blow when the market
regulator Sebi issued directive to market to stall trading of 331 shell
companies. Coupled with weak global cues and volatility ahead of inflation
numbers, which are due on Friday, negative sentiments have gripped the Indian stock
markets.

The Nifty
future started forming lower tops and lower bottoms, while it may have also
formed a ‘Head & Shoulder’ pattern on the daily charts. This signals more
correction ahead, probably towards the 9800 level in the near term. The
index registered consecutive firm close below its neckline. The pattern
indicates a target up to 9750 for nifty futures. A follow-through move below 9825
could amplify the bearish momentum. As we expect the seasonality effect to be
sip in during the current series, participants are advised to book profit where
possible and wait for this corrective wave to pass. This corrective move is
likely to extend towards the 9750 -9700. zone. Traders are advised to cut
their leveraged bets and avoid long exposure. The momentum will strengthen once
Nifty futures moves above 10000 levels with a strong volume.

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The usage of this blog confirms to the policy that the investment in stock market has inherent risks and author or his clients may or may not be following the recommended tips.The author will not be held responsible for any loss incurred by following the advice.